Team-BHP > Team-BHP Reviews > Indian Car Loans & Insurance


Reply
 
Thread Tools Search this Thread
Old 12th November 2018, 17:17   #4396
Distinguished - BHPian
 
Join Date: Sep 2010
Location: All over!
Posts: 5,570
Thanked: 9,943 Times
Default Re: Automobile Insurance Queries? Ask me

Quote:
Originally Posted by sidpunjabi View Post
Anybody have any history with this? Insurance gurus, what is your take?
7 is the new 5; quite a few companies now routinely offer 0-dep policies up to the 7th year of the car (meaning, before your car completes 8 years). The one pre-requisite I've seen is that the expiring policy should have 0-dep. I've had a 0-dep on my City till it completed 8 years.
libranof1987 is offline   (1) Thanks
Old 12th November 2018, 18:46   #4397
Senior - BHPian
 
ghodlur's Avatar
 
Join Date: Sep 2009
Location: Thane
Posts: 5,510
Thanked: 2,955 Times
Default Re: Automobile Insurance Queries? Ask me

Quote:
Originally Posted by sidpunjabi View Post
I know that 0-depreciation is usually not allowed for cars beyond 5 years, but when I go on the Bajaj Allianz website to renew - they're giving me the option to take the 0-depreciation package.

So, my question is that if (God forbid) the time comes - will Bajaj Allianz honour it since I have paid for it (and presuming that I have met all their other required criteria at the time of the claim)?
Zero dep is an add on cover which isn't govered by IRDA rules, it is upto the Insurance co to provide the same. If BA if offering you the zero dep add on, I would suggest to take it. Generally Insurance cos don't mess up with zero dep claims unless they feel the reason otherwise.
ghodlur is offline   (1) Thanks
Old 12th November 2018, 19:48   #4398
BHPian
 
sidpunjabi's Avatar
 
Join Date: Jul 2018
Location: Bombay
Posts: 150
Thanked: 114 Times
Default Re: Automobile Insurance Queries? Ask me

Quote:
Originally Posted by libranof1987 View Post
7 is the new 5; quite a few companies now routinely offer 0-dep policies up to the 7th year of the car (meaning, before your car completes 8 years). The one pre-requisite I've seen is that the expiring policy should have 0-dep. I've had a 0-dep on my City till it completed 8 years.
Oh, superb!! I have always, at least, had the 0 dep cover so I have no intention of letting go of it.

Quote:
Originally Posted by ghodlur View Post
Zero dep is an add on cover which isn't govered by IRDA rules, it is upto the Insurance co to provide the same. If BA if offering you the zero dep add on, I would suggest to take it. Generally Insurance cos don't mess up with zero dep claims unless they feel the reason otherwise.
Gotcha. I was just concerned about some weird technical clause that I may have overlooked and BA could pop up later. But if it's not uncommon to provide a 0 dep cover at this age, then that's a relief.

Last edited by sidpunjabi : 12th November 2018 at 19:50.
sidpunjabi is offline  
Old 16th November 2018, 07:13   #4399
Distinguished - BHPian
 
drmohitg's Avatar
 
Join Date: Sep 2010
Location: Delhi
Posts: 5,405
Thanked: 7,096 Times
Default Re: Automobile Insurance Queries? Ask me

My 2011 Toyota Corolla Altis was covered under Zero depreciation cover till now. Since we were planning to sell it off now, this time I didn't opt for the Zero depreciation add on ( even though it was available) and instead went ahead with regular comprehensive insurance since the extra cost was not justified. But due to NGT rule, the prices being quoted are way too low and we have decided to instead keep the car for longer as its well maintained. Now my query is that can I add the Zero Dep cover to my policy now by paying the extra premium. The policy in question was renewed on 24th Sept, 2018.
drmohitg is offline  
Old 16th November 2018, 07:56   #4400
Senior - BHPian
 
ghodlur's Avatar
 
Join Date: Sep 2009
Location: Thane
Posts: 5,510
Thanked: 2,955 Times
Default Re: Automobile Insurance Queries? Ask me

Quote:
Originally Posted by drmohitg View Post
My 2011 Toyota Corolla Altis was covered under Zero depreciation cover till now. Since we were planning to sell it off now, this time I didn't opt for the Zero depreciation add on ( even though it was available) and instead went ahead with regular comprehensive insurance since the extra cost was not justified. But due to NGT rule, the prices being quoted are way too low and we have decided to instead keep the car for longer as its well maintained. Now my query is that can I add the Zero Dep cover to my policy now by paying the extra premium. The policy in question was renewed on 24th Sept, 2018.
Unfortunately you cannot add the add on cover mid year, you will need to wait till the policy ends and then if the Insurer gives an option of adding the cover, you may do so.

Enquire with the Insurance co if you can cancel the existing policy and a buy a new one with the add on cover. Chances are slim but worth trying.
ghodlur is offline   (1) Thanks
Old 20th November 2018, 20:38   #4401
BHPian
 
Join Date: May 2013
Location: Gurgaon/Jind
Posts: 338
Thanked: 142 Times
Default Re: Automobile Insurance Queries? Ask me

Hi All,

I had recently bought a used Car for a friend. The new RC Book has his last name spelled incorrectly. They have replaced “E” with “A” in the surname. There was an issue in getting the car transferred. The RTO had misplaced the original RC and it took more than 4 months to get the car transferred. Getting the name change would take aunother couple of weeks. Though a small mistake wouldn’t hamper us my question is would we face any problem if we have to claim insurance at a later stage. Just because “E” in his surname has been replaced with “A”?
nik0502 is offline  
Old 21st November 2018, 08:32   #4402
Senior - BHPian
 
ghodlur's Avatar
 
Join Date: Sep 2009
Location: Thane
Posts: 5,510
Thanked: 2,955 Times
Default Re: Automobile Insurance Queries? Ask me

Quote:
Originally Posted by nik0502 View Post
Getting the name change would take aunother couple of weeks. Though a small mistake wouldnít hamper us my question is would we face any problem if we have to claim insurance at a later stage. Just because ďEĒ in his surname has been replaced with ďAĒ?
If the application for the name change has been submitted to RTO, subsequent application to the Insurance co regarding the same would help. If the Insurance co is aware of the name change process, it should not be an issue when it come to claim processing. Keep the application copy submitted to Insurance co in the car.
ghodlur is offline  
Old 23rd November 2018, 17:45   #4403
BHPian
 
Join Date: Oct 2015
Location: New Delhi
Posts: 82
Thanked: 59 Times
Default Re: Automobile Insurance Queries? Ask me

Damage 1 (minor)- Didn't claim insurance immediately. I thought I will claim and get it repaired in some time.
Damage 2 after a month (major) - Claimed insurance. previous damage was not included as it was not part of the same accident.
Later I went to claim insurance for the previous damage as insurance is due for renewal and one zero dep claim remaining.
Surveyor rejects claim saying they have the photographs of the vehicle from last claim and the damages already existed.

Now my question is -
Should I renew insurance with same company (HDFC Ergo) or with a different company?
Do the insurance companies share claim data (pics) with one another or does IRDA has any centralised database of all the claim details?

Because if that is the case, even changing the company is not going to help.

Last edited by chandra1 : 23rd November 2018 at 17:46.
chandra1 is offline  
Old 23rd November 2018, 18:17   #4404
Senior - BHPian
 
ghodlur's Avatar
 
Join Date: Sep 2009
Location: Thane
Posts: 5,510
Thanked: 2,955 Times
Default Re: Automobile Insurance Queries? Ask me

Quote:
Originally Posted by chandra1 View Post
Do the insurance companies share claim data (pics) with one another or does IRDA has any centralised database of all the claim details?
Yes the claim details are shared between Insurance cos and with IRDA. Every claim is recorded against the car registration no. Even if you change insurance cos and you raise a claim, the new Insurance co will log into IRDA database which will list all the claims made against the car no.

Since as per you the damage is minor, getting it done at your own cost is the best alternative. Or wait till you damage that side more extensively for it to be repaired.
ghodlur is offline   (1) Thanks
Old 23rd November 2018, 18:18   #4405
BANNED
 
Join Date: Apr 2008
Location: BLR
Posts: 8,741
Thanked: 7,117 Times
Default Re: Automobile Insurance Queries? Ask me

Ok quick cross check!
My 7 year old Yeti is going for its 8th Insurance renewal end of this month.
The IDV is 10 Lacs.
The Premium payable after 50% NCB and 60% Corporate Discount and all, still comes to Rs 21000/- which includes Drive Assure Classic which is like a semi zero dep.
The insurer is Bajaj Allianz. Ive been with them since the day I bought the Yeti.

Now, am just wondering if I can indeed get a better deal.
Because most of the other insurers whom I connected with arenít offering the same IDV and arenít offering the Drive Assure, though their premiums are more like in the 15000-18000 range.
What to do?
Stay with Bajaj ?
Or move on?
shankar.balan is offline  
Old 26th November 2018, 12:33   #4406
BHPian
 
Join Date: Oct 2015
Location: New Delhi
Posts: 82
Thanked: 59 Times
Default Re: Automobile Insurance Queries? Ask me

I want to add consumable add on as I had to shell out 16K for wheel bearings
damaged in an accident this year.
I would prefer to go with Royal Sundaram but they don't offer consumables add on.
Now I am considering two options:
HDFC Ergo (Zero dep + RSA+ consumables+unlimited zero dep claims) - 18500
Digit - (Zero dep + RSA+ consumables) - 15100
I don't know if Digit can be trusted as there is not much info or reviews available.

Another query - what is the 'Tyre Cover' add on? Does it cover punctures etc. or just tyre thefts?
chandra1 is offline  
Old 26th November 2018, 12:37   #4407
Senior - BHPian
 
hserus's Avatar
 
Join Date: Sep 2014
Location: Chennai
Posts: 4,419
Thanked: 8,115 Times
Default Re: Automobile Insurance Queries? Ask me

Quick question - for a stolen car, when do the cops generally issue a non traceable certificate so that I can submit it as part of the insurance claim required documents? (Claim made within 24 hours of the theft on 18/10 and all other documents have been submitted to the insurer).
hserus is offline  
Old 29th November 2018, 12:28   #4408
BHPian
 
Join Date: Oct 2015
Location: New Delhi
Posts: 82
Thanked: 59 Times
Default Re: Automobile Insurance Queries? Ask me

Really fed up with HDFC Ergo insurance. I have contacted them more than 6 times in last 4 days through phone and site for help with renewal. Every time they say they will call back. But No one cares to address the issue or give a call back. If this is the attitude when a customer is asking for renewal, you can guess how they will support at the time of claim. Moving to some other company and will never recommend HDFC Ergo to anyone.
chandra1 is offline  
Old 29th November 2018, 13:39   #4409
Newbie
 
Join Date: Nov 2018
Location: Pune
Posts: 14
Thanked: 23 Times
Default Re: Automobile Insurance Queries? Ask me

Quote:
Originally Posted by shankar.balan View Post
Ok quick cross check!
My 7 year old Yeti is going for its 8th Insurance renewal end of this month.
The IDV is 10 Lacs.
The Premium payable after 50% NCB and 60% Corporate Discount and all, still comes to Rs 21000/- which includes Drive Assure Classic which is like a semi zero dep.
The insurer is Bajaj Allianz. Ive been with them since the day I bought the Yeti.

Now, am just wondering if I can indeed get a better deal.
Because most of the other insurers whom I connected with arenít offering the same IDV and arenít offering the Drive Assure, though their premiums are more like in the 15000-18000 range.
What to do?
Stay with Bajaj ?
Or move on?
Sir i am very sorry i could not connect with you in time. I did not have permissions to DM you i suppose.

Have you already closed this with BAGIC? If not please let me know i will personally take this up.

Thanks
BlueMotionBrain is offline   (1) Thanks
Old 29th November 2018, 17:47   #4410
BANNED
 
Join Date: Apr 2008
Location: BLR
Posts: 8,741
Thanked: 7,117 Times
Default Re: Automobile Insurance Queries? Ask me

Quote:
Originally Posted by BlueMotionBrain View Post
Sir i am very sorry i could not connect with you in time. I did not have permissions to DM you i suppose.

Have you already closed this with BAGIC? If not please let me know i will personally take this up.

Thanks
Most kind sir.
Tonight midnight was the deadline so I paid the premium on Tuesday morning.
Iím expecting the policy any time now.
I ve paid for Drive Assure Classic - Premium was about 21000/-
shankar.balan is offline  
Reply

Most Viewed
Thread Tools Search this Thread
Search this Thread:

Advanced Search

Copyright ©2000 - 2021, Team-BHP.com
Proudly powered by E2E Networks